Islamic Finance explained….I think


Qurban means to sacrifice a sheep, a goat, an ox (or cow), or a camel with the intention of performing the qurban on one of the first three days of the ’Iyd of Qurban. Up to seven people may share a cow or a camel in their performance of the qurban, buying it collectively. The qurbans of vow and aqiqa [1] may be joined to them. Although it is possible to become a shareholder later of the qurban which a rich person has already bought, it would be makruh [2]. It is not permissible for eight people to purchase seven cows or for two people to purchase two sheep as qurban shareholders. For each person would then own a share in each qurban. To avoid interest earning, it is necessary to divide the meat by weighing it out in equal amounts. It is not permissible to divide the meat without weighing it even if the shareholders agree among themselves to waive their rights mutually. For waiving their rights mutually would mean giving presents. It is not permissible to make a gift of something which is sharable before the shares have been divided and distributed to the shareholders. If each of six of the shareholders is given a piece of the skin or a leg of the animal together with its meat, then it is permissible to share without weighing. It is written in the books Hindiyya and Majmua-i Zuhdiyya that the head is categorized as the skin of the animal.

[1] aqiqa: animal is sacrificed to thank Allahu ta’ala for a newly born child. Two are for a son, while one is for a daughter. It is not fard. It is mustahab to do it.
[2] makruh: (act, thing) improper, disliked and abstained by the Prophet (‘alaihi ‘s-salam).

…. Courtesy